NevadaSB50283rd Regular Session (2025)SenateWALLET

AN ACT relating to projects of capital improvement; authorizing certain expenditures for certain projects of the Executive and Legislative Departments of the State Government; levying a property tax to support the Consolidated Bond Interest and Redemption Fund; making appropriations; and providing other matters properly relating thereto.

Sponsored By: Senate Committee on Finance

Signed by Governor

BDR S-1233

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Bill Overview

Analyzed Economic Effects

15 provisions identified: 10 benefits, 1 costs, 4 mixed.

Non-general funds power key projects

The state may spend non‑General Fund money on listed projects, including $145,067,830 for the North Las Vegas State Veterans Home. The Public Works Division cannot sign a construction contract until all project funding is in hand. The Attorney General must approve every contract, and agencies must cooperate to speed delivery. With IFC approval, funds can move between projects inside an agency, while keeping required funding ratios unless that risks other funds.

Bonds fund Legislative building projects

The State Board of Finance can issue up to $191.9 million in state bonds for Legislative building projects in 2025–2027. If bonds for these and certain other projects come to the same meeting, the Board approves one combined issuance. The Board cannot take separate votes at that meeting. The bonds follow state securities law.

State sells bonds for projects

The state may sell up to $799,271,288 in general obligation bonds and use $1,692,000 in reallocated proceeds, with total proceeds capped at $800,963,288. The Board of Finance sets sale timing to match project schedules. The state may pay bond‑sale costs from the bond money. Any unspent allocations for these bonds cannot be committed after June 30, 2029 and must revert by September 21, 2029.

Money set aside for bond payments

The Bond Interest and Redemption Fund will pay $180,892,046 in 2025–2026 and $180,634,198 in 2026–2027 for bond costs. By July 1, 2025 and July 1, 2026, the Treasurer must estimate tax proceeds and ask to reserve State General Fund money if needed. If the bond fund is short when payments are due, the Controller moves the reserved money, which must later revert by set September dates. Work‑program changes for these bond payments no longer need Interim Finance Committee approval.

Bonds continue 2019 projects

The state may issue up to $63,400,000 in bonds for the purposes listed by reference in a 2019 law. The money must be used for those specified projects.

Legislative building upgrades get funding

The law gives $33,859,402 from the State General Fund to improve Legislative buildings. Any leftover allocated bond money for Legislative work cannot be committed after June 30, 2029 and must return to the Bond Interest and Redemption Account by September 21, 2029.

Grants for water-saving projects

The state may issue up to $33,900,000 in bonds to fund grants for water conservation and capital upgrades at certain water systems.

Cash for state and highway projects

The state provides $99,514,255 from the General Fund and $9,878,338 from the State Highway Fund for 2025–2027 capital projects. Leftover balances cannot be committed after June 30, 2029 and must revert by September 21, 2029 to their source funds. The Controller may move Highway Fund money only when contract payments are due.

Conditional bonds tied to SB83

The state may sell up to $10,500,000 in bonds in 2025–2027 for SB83 purposes. This authority takes effect July 1, 2025 only if SB83 is enacted and approved. All other sections of this law take effect on passage and approval.

Grants to save historic buildings

The state may sell up to $6,000,000 in bonds to fund financial help to preserve historic buildings and support cultural centers and activities.

More money for NSHE repairs

The state moves $11,762,261 to NSHE’s deferred maintenance project (25‑M01) and adds $3,000,000 from slot‑machine tax receipts. Unused money for this project, including transferred funds, cannot be committed after June 30, 2029 and must revert by September 21, 2029.

Property tax set for bond payments

For Fiscal Years 2025–26 and 2026–27, the law sets two property taxes to pay state bonds. Rates are 16.18 cents and an additional 0.82 cents per $100 of assessed value. These charges appear on your property tax bill and go to the Consolidated Bond Interest and Redemption Fund. To estimate yearly cost, multiply assessed value by 0.001618 and 0.000082. 1.18 cents of the 16.18, and all of 0.82, do not count toward the usual levy cap.

Past project deadlines updated, one canceled

The law updates use‑by and reversion dates for past capital funds from 2019 and 2021 laws. Most balances must be used by June 30, 2025 and revert by September 19, 2025; some projects have until June 30, 2027 and revert by September 17, 2027. The Southern Nevada Small Arms Range project (23‑C33) is canceled.

Short-term advances to start projects

The Controller may advance State General Fund or State Highway Fund cash so projects can start before bonds sell. Advances must be repaid when bonds are issued or by the last business day in August after that fiscal year. Money can only be advanced as needed for contract payments. The finance chief must notify fiscal officers when advances are approved and send a reconciliation after the fiscal year. For Legislative projects, the Legislative Counsel Bureau must also notify and reconcile advances and repayments.

DMV projects funded with bonds

Up to $6,718,797 in bonds may fund DMV projects. The Board cannot issue the bonds unless budgeted money will cover repayment. Annual repayments come from the State Highway Fund and are budgeted each year until the bonds are paid. Any unspent DMV bond allocations cannot be committed after June 30, 2029 and must revert by September 21, 2029.

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Sponsors & Cosponsors

Sponsor

  • Senate Committee on Finance

    Affiliation unavailable

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 55 • No: 8

House vote 6/1/2025

Final Passage - Assembly (2nd Reprint)

Yes: 38 • No: 4

Senate vote 5/21/2025

Final Passage - Senate (As Introduced)

Yes: 17 • No: 4

Actions Timeline

  1. Chapter 515.

    6/11/2025legislature
  2. Approved by the Governor.

    6/10/2025legislature
  3. Enrolled and delivered to Governor.

    6/6/2025legislature
  4. To enrollment.

    6/4/2025Senate
  5. From printer. To re-engrossment. Re-engrossed. Fourth reprint.

    6/4/2025Senate
  6. To printer.

    6/4/2025Senate
  7. In Senate.

    6/2/2025Senate
  8. Assembly Amendment No. 979 receded from. To Senate.

    6/2/2025House
  9. In Assembly.

    6/2/2025House
  10. Assembly Amendment No. 979 not concurred in. To Assembly.

    6/2/2025Senate
  11. Assembly Amendment No. 959 concurred in.

    6/2/2025Senate
  12. In Senate.

    6/2/2025Senate
  13. To Senate.

    6/2/2025House
  14. From printer. To reengrossment. Reengrossed. Third reprint.

    6/2/2025House
  15. To printer.

    6/1/2025House
  16. Read third time. Passed, as amended. Title approved. (Yeas: 38, Nays: 4.)

    6/1/2025House
  17. Dispensed with reprinting.

    6/1/2025House
  18. Read third time. Amended. (Amend. Nos. 959 and 979.)

    6/1/2025House
  19. Placed on General File.

    6/1/2025House
  20. Taken from Chief Clerk's desk.

    6/1/2025House
  21. Placed on Chief Clerk's desk.

    5/31/2025House
  22. Taken from General File.

    5/31/2025House
  23. Taken from General File. Placed on General File for next legislative day.

    5/30/2025House
  24. Taken from General File. Placed on General File for next legislative day.

    5/29/2025House
  25. From printer. To reengrossment. Reengrossed. Second reprint.

    5/29/2025House

Bill Text

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